Investing in cryptocurrencies can be an excellent way to make some side income, especially if you know what you're doing.
Knowing which currencies to invest in beforehand is one of the key determining factors in how much profit you can reap.
That is why we have created this guide To Help you with just that and to keep you informed for a profitable July.
Bitcoin has to be included on this list. Bitcoin is the largest and most dominant cryptocurrency on the market. So far, it is still regarded as the safest cryptocurrency to invest in.
Bitcoin was the first of its kind and doesn't appear to be going anywhere anytime soon. Looking at bitcoin from a supply/demand perspective, the only way its prices can go in the long term is up. It currently has a market cap of a total supply of 21 million bitcoin, and some crypto analysts even believe that bitcoin might reach the $100,000 mark very soon.
The second and most popular cryptocurrency after bitcoin. Ethereum has the second-largest market cap overall. It recently fell to about $1k and is unlikely to fall much lower anytime soon. This may be the best time to buy the dip before the market goes parabolic, possibly this July.
Dogecoin, although having little to offer as a cryptocurrency, has hands-down been one of the most profitable cryptocurrencies to invest in so far. Partly because billionaire and entrepreneur, Elon Musk backs it. Companies worldwide have begun to accept dogecoin and other cryptos as a means of payment. This has had a positive effect on the crypto's prices so far. Dogecoin has the possibility of bringing you reasonable returns in July.
USDT is a stable coin and is worth mentioning. Stablecoins have relatively fixed values over time and are immune, in a way, to market volatility. Storing your crypto assets as stablecoins can be profitable in a bear market like the one we are currently in. You can easily buy into dips and profit substantially when prices move to the upside.
XRP is another popular crypto that might make you profits in July. This cryptocurrency has been around for years and is used by individuals, corporations, and even banks because of its relatively low fees and fast transactions.
Solana is popular because of its low transaction fees and high execution speeds. Solana was one of the top-performing cryptocurrencies throughout 2021 and currently trades at about $40.
Solana is commonly referred to as the "Ethereum killer" and is ranked #9 on Coinmarketcap. This nickname doesn't mean anything, as the Solana network aims to fix the issues with Ethereum (currently ranked #2).
Solana could experience massive growth this June.
Kucoin powers a cryptocurrency exchange platform of the same name. It is one of the top-performing cryptocurrencies so far this year.
KCS is an excellent investment choice this July and is tagged as "relatively safe." This is due to the continuous flow of returns from its exchange platform.
KCS is currently ranked #39 and now trades at $17.
Polkadot is another cryptocurrency that has made a name for itself as an "Ethereum killer." Over the years, Polkadot has had a history of explosive growth, earning its investors substantial profits.
DOT is affordable and currently trades at about $10. It is ranked #11 on coinmarketcap.
Like Polkadot, Tezos is an open-source blockchain-based platform that has grown fast over the years. As an XTZ holder, you can choose to stake your assets and earn a passive income in the process. Asides from that, Tezos is affordable and currently trades at $2. It is ranked #37 by market cap.
Tron is by far one of the most reliable and most secure cryptocurrencies. Tron has experienced massive gains and has flourished over the years. It currently trades at $0.878 and has a market cap rank of #13.
Tron is inexpensive and might make a worthy addition to your portfolio.